Mining Weekly reported that diamond miner Harry Winston said it had lifted its diamond production last year from the partly owned Diavik diamond mine by close to 7.5% for higher grades to 7.2 million carats.

As quoted in the market news:

During the fourth quarter of 2012, the Diavik diamond mine produced 1.9-million carats from 500 000 t of ore processed, as compared with 1.6-million carats from 600 000 t of ore processed in the comparable quarter of the prior year.

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Diamonds exhibit low and stable correlations with traditional financial market assets, and lower correlation with precious metals that the metals show with one another. The result is that diamonds can and do offer a superior portfolio diversification when maximizing risk adjusted rate of return is the goal. When you combine lower volatility with low or stable correlations to traditional asset classes, historical strong performance, and excellent upside potential, diamonds in a portfolio makes an excellent choice.

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The long-term outlook for Diamond is positive and the worlds largest Diamond producers are confident that the next few years will see a return to robust demand growth. The main growth markets for the metal are the BRIC countries, but demand from Western economies is expected to rise as well. The automotive and aerospace industries are seen as the main catalysts for new growth as manufacturers seek to reduce fuel consumption by creating lighter weight vehicles.

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